Brookfield completes offering of First Mortgage Bonds for Bay Adelaide Centre East and West
Goodmans LLP acted for CIBC Capital Markets in connection with its role as Structuring Agent and Lead Left Joint Bookrunner for Brookfield on its $433.2 million offering of First Mortgage Bonds for Bay Adelaide Centre East and West.
The Mortgage Bonds, priced with a yield of 4.687% and issued on an unrated basis, will mature on March 6, 2028. In connection with the transaction, the proceeds from the offering were used to repay the existing 3.773% Series A Bonds due March 6, 2025.
CIBC Capital Markets is an investment banking subsidiary of the Canadian Imperial Bank of Commerce (CIBC) that also serves as a debt placement agent for Canadian real estate entities.
Bay Adelaide Centre East and West is a 2.2 million square foot “AAA” office complex in Toronto, comprised of the Bay Adelaide Centre East Tower, the Bay Adelaide Centre West Tower, street level retail, a 72% interest in the PATH-connected retail concourse and a 930 stall parking facility.
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REITS and Income Securities
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Shareholder Activism
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